Summit Midstream Partners Achieves Significant Gains with 13.72% Increase in Shares

Summit Midstream Partners, LP (NYSE: SMLP) is gaining attention today as one of the market’s top performers. The company has experienced a notable rise of 13.72%, bringing its share price to $15.52.

Summit Midstream specializes in the ownership, development, and operation of midstream energy infrastructure assets, with a focus on shale formations across the continental United States. Its services include gathering, compression, treatment, processing, and produced water gathering, primarily in regions like the Utica and Point Pleasant shale formations in southeastern Ohio.

Trading activity for Summit Midstream has been robust, with around 50,474 shares exchanged so far, compared to an average daily volume of 14,480 shares over the past 30 days. The stock has recorded a modest increase of 0.52% over the past week.

Current data indicates that Summit Midstream has a market capitalization of approximately $173.8 million and a negative price-to-earnings (P/E) ratio of -2.05. The company has reported a revenue decline of 2.93% for the last twelve months up to Q2 2023, with a gross profit margin of 55.27%. The current stock price is at 62.03% of its 52-week high.

Despite its low Price/Book multiple of 0.22 and strong free cash flow yield, investors should be aware that the company has experienced accelerating revenue decline and has not been profitable over the last year. These insights are aimed at helping investors make informed decisions.

Over the past year, Summit Midstream’s share prices have ranged from a 52-week high of $21.49 to a low of $13.

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This article was generated with the support of AI and reviewed by an editor.